Titan Machinery (NASDAQ:TITN) Given New $18.00 Price Target at Robert W. Baird

Titan Machinery (NASDAQ:TITN) had its price objective reduced by equities research analysts at Robert W. Baird from $24.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 8.86% from the company’s current price.

Separately, TheStreet cut Titan Machinery from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Titan Machinery Price Performance

TITN opened at $19.75 on Friday. The stock has a fifty day simple moving average of $23.53 and a two-hundred day simple moving average of $25.47. The company has a current ratio of 1.32, a quick ratio of 0.19 and a debt-to-equity ratio of 0.16. The company has a market cap of $450.70 million, a price-to-earnings ratio of 4.00 and a beta of 1.41. Titan Machinery has a 12-month low of $18.68 and a 12-month high of $35.88.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The company had revenue of $628.70 million during the quarter, compared to analysts’ expectations of $664.18 million. Research analysts predict that Titan Machinery will post 3.35 earnings per share for the current fiscal year.

Institutional Trading of Titan Machinery

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC raised its stake in Titan Machinery by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 173,472 shares of the company’s stock valued at $4,304,000 after purchasing an additional 7,500 shares during the period. Caxton Associates LP raised its stake in Titan Machinery by 29.6% during the 1st quarter. Caxton Associates LP now owns 27,067 shares of the company’s stock valued at $672,000 after purchasing an additional 6,182 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Titan Machinery by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock valued at $318,000 after purchasing an additional 802 shares during the period. Quadrature Capital Ltd raised its stake in Titan Machinery by 40.5% during the 1st quarter. Quadrature Capital Ltd now owns 29,266 shares of the company’s stock valued at $726,000 after purchasing an additional 8,440 shares during the period. Finally, Vanguard Group Inc. raised its stake in Titan Machinery by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,164,276 shares of the company’s stock valued at $28,886,000 after purchasing an additional 9,548 shares during the period. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.